Non compliance of company law and minority interests

Question

Non compliance of company law and minority interests

21-Feb-2026 (In Corporate Law)

I am a director and shareholder 33% of a Pvt Ltd company for 5 years. But company never hold a AGM or Board of Directors meeting for one n half years, or maintain minutes not having any CS . Accounts are audited but I never get a copy thereof or signed. I am signing authority. So what are my rights? What should I do. Can I apply for winding up petition for against minority interest? Please guide n advise

Answers (5)

Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.

Report abuse?

Connect with top Corporate lawyers for your specific legal issue

Connect with a Lawyer

Comments by Users

No Comments! Be the first one to comment.

Adv. Puneet Choutala Adv. Puneet Choutala

Delhi | 25+ Answers

Chat CONTACT NOW

Advocate Pankaj Bajaj LawRato · Accepted Answer · 2026-02-24T16:02:47+05:30

Answer #2

Under the Companies Act, you have a right to inspect records and financial statements. File a petition with the NCLT for oppression and mismanagement or seek a derivative action for non-compliance as per the concerned provisions of law

Helpful?

Adv. Pankaj Bajaj Adv. Pankaj Bajaj

Delhi | 50+ Answers

Chat CONTACT NOW

Advocate Akshay Kumar LawRato · Accepted Answer · 2026-02-26T14:23:02+05:30

Answer #3

1. Send a written legal notice to other directors demanding immediate AGM, Board meetings, and copies of audited accounts. 2. File a complaint with ROC (Registrar of Companies) under Sections 96, 118, and 136 for statutory violations. 3. File a petition under Section 241-242 (Oppression & Mismanagement) before the NCLT — this is your strongest remedy as a minority shareholder being denied rights. 4. Winding up under Section 271 is also available if the company has acted oppressively against minority interests, but NCLT relief under Section 241-242 is generally preferred as it is less drastic and more effective. 5. As a signing authority, immediately avoid signing any documents without reviewing accounts to protect yourself from personal liability.

Helpful?

Adv. Akshay Kumar Adv. Akshay Kumar

Delhi | 25+ Answers

Chat CONTACT NOW

Advocate Avinash Gaur LawRato · Accepted Answer · 2026-02-28T14:44:36+05:30

Answer #4

In your case there are more details required for correctly addressing the issue as appointment of CS, is not mandatory in every company. Only in cases where the paid up capital is 5Cr and above then it is mandatory to appoint one. For your rights and advice on your actions you may consult with us.

Helpful?

Adv. Avinash Gaur Adv. Avinash Gaur

Delhi | 5+ Answers

Chat CONTACT NOW

Advocate Vishali Verma LawRato · Accepted Answer · 2026-03-01T23:06:45+05:30

Answer #5

Hi, Though this needs to be answered in detail but will summarise vital points for you: 1. Aforementioned failures amounts to statutory non-compliance, attracting penalties on the company and officers in default. Steps you can take: 1. Issue a written notice calling a Board Meeting/EGM. 2.Check MCA filings 3. File petition for Oppression and Mismanagement before the NCLT.

Helpful?

Adv. Vishali Verma Adv. Vishali Verma

Delhi | 25+ Answers

Chat CONTACT NOW